The State of California has so much cash, thanks to a revenue surplus, that it may be required to return some to taxpayers, according to a new budget proposal from Gov. Gavin Newsom for 2021.
On Friday, Newsom presented his budget, a staggering $227.2 billion plan that he said was a “fiscal blueprint that provides funding for immediate COVID-19 response and relief efforts where Californians need it most while making investments for an equitable, inclusive and broad-based economic recovery.”
In addition to proposing new spending on COVID-19, climate change, and other typical Democratic priorities, Newsom noted that the state has a $15 billion surplus, despite the economic devastation of the coronavirus pandemic.
As the Sacramento Bee noted, there may be so much surplus on a per capita basis that some money, by law, may have to be refunded:
The state is on pace to hit a spending cap voters adopted
